Snap Inc.Long
SNAP - Bullish Multi-Time Frame Inverse Head & Shoulder Pattern
Summary: SNAP is forming a bullish inverse head & shoulders on multiple timeframes. This trade and target are largely based on the larger pattern (4hr time frame), however I think the pivot points and the 30min frame showing the slanted inverse H&S will provide for a high quality entry in the middle of the right shoulder so we don’t need to wait for a break of 13 for entries. Stop loss would be break below 12 support (or tighter SL depending on your risk tolerance).
P&L Assuming 12.6 Entry:
Gain: $1.3
Loss: $.6
Risk v Reward: 2:1
Possible Contracts:
13C for 1/3/2025 (currently $0.50)
12.5C for 1/3/2025 (currently $0.70)
P&L Assuming 12.6 Entry:
Gain: $1.3
Loss: $.6
Risk v Reward: 2:1
Possible Contracts:
13C for 1/3/2025 (currently $0.50)
12.5C for 1/3/2025 (currently $0.70)
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